All Poloniex users must verify accounts after KYC system upgrade

Popular crypto exchange Poloniex has announced today that it has completed a major upgrade to its customer identification and verification systems. As a result, the company will soon require legacy accounts to become verified through the latest version of its verification portal.

The exact date for this deadline will be announced in Q1 2018.

The Polo team is asking users, if possible, to verify their legacy account sooner rather than later to avoid any potential interruptions in the ability to trade on the platform.

Users can check their account profile as of now to determine if it is Legacy or Verified.

On the date of the deadline (to be announced), legacy accounts will be placed in a state where:

Withdrawals will remain enabled at the daily withdrawal limits prior to the deadline. If at any point a user verifies their legacy account, full functionality will be restored and daily withdrawal limit will be increased to $25K USD equivalent.

The Poloniex Team stated:

“As a registered money services business, Poloniex is committed to compliance with all applicable law requiring identification and verification of its customers. If you have questions about these or any other Poloniex terms, we encourage a careful and thorough review of our terms of service and privacy policy.”

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